Rhumbline Advisers Has $18.07 Million Position in NOV Inc. (NYSE:NOV)

Rhumbline Advisers raised its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,187,218 shares of the oil and gas exploration company's stock after purchasing an additional 91,080 shares during the period. Rhumbline Advisers owned 0.32% of NOV worth $18,069,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOV. First Pacific Advisors LP acquired a new stake in shares of NOV in the fourth quarter worth $39,495,000. Dimensional Fund Advisors LP increased its position in shares of NOV by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock worth $245,178,000 after acquiring an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC increased its position in shares of NOV by 85.9% in the fourth quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company's stock worth $55,248,000 after acquiring an additional 1,748,816 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NOV by 40.7% in the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock valued at $83,489,000 after purchasing an additional 1,652,917 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of NOV by 187.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,071,760 shares of the oil and gas exploration company's stock valued at $30,248,000 after purchasing an additional 1,351,441 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Stock Performance

Shares of NOV stock traded up $0.09 during trading hours on Wednesday, reaching $13.40. The stock had a trading volume of 4,895,418 shares, compared to its average volume of 4,006,021. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20. The firm has a 50-day simple moving average of $12.29 and a 200-day simple moving average of $14.05. The firm has a market capitalization of $5.04 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the business earned $0.30 EPS. The firm's revenue was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a dividend yield of 3.63%. NOV's dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NOV shares. The Goldman Sachs Group decreased their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, June 5th. Piper Sandler decreased their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Royal Bank of Canada decreased their target price on shares of NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Susquehanna reduced their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.44.

NOV Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.